SM ops update
Posted: Tue Jun 06, 2017 12:03 pm
SM Energy Announces Operations Update - Increasing Production Guidance And Positive Early Viper Well Results
PR NEWSWIRE 6:00 AM ET 6/6/2017
DENVER , June 6, 2017 /PRNewswire/ -- SM Energy Company(SM) (the "Company") announced today it is increasing production guidance by approximately 0.4 MMBoe, all of which is attributable to the second quarter of 2017, due to acceleration of completion activity at its core Eagle Ford program. The pace of completions in the Eagle Ford was accelerated during the quarter by 11 wells. The Company has completed 31 wells in its Eagle Ford program year-to-date and the current full year plan is to complete 39 wells. Production guidance is revised to 10.7-11.1 MMBoe for the second quarter and 43.2-46.2 MMBoe for the full year 2017.
President and Chief Executive Officer Jay Ottoson comments: "Due to the favorable terms and performance under our pumping services agreement for the Eagle Ford, we are pleased to accelerate this activity, which we believe will result in higher cash flow and capital cost savings in 2017."
"I would also like to add that production from our highly anticipated Viper 14-9 1WA well in Howard County, Texas, with an approximate 10,400 foot lateral drilled in the Wolfcamp A, has just passed 1,000 Boe/d production at 92% oil during completion flowback with oil rates still increasing. It will be some time yet before we have a 30-day peak rate for this well, but this is clearly an encouraging early indication of productivity."
PR NEWSWIRE 6:00 AM ET 6/6/2017
DENVER , June 6, 2017 /PRNewswire/ -- SM Energy Company(SM) (the "Company") announced today it is increasing production guidance by approximately 0.4 MMBoe, all of which is attributable to the second quarter of 2017, due to acceleration of completion activity at its core Eagle Ford program. The pace of completions in the Eagle Ford was accelerated during the quarter by 11 wells. The Company has completed 31 wells in its Eagle Ford program year-to-date and the current full year plan is to complete 39 wells. Production guidance is revised to 10.7-11.1 MMBoe for the second quarter and 43.2-46.2 MMBoe for the full year 2017.
President and Chief Executive Officer Jay Ottoson comments: "Due to the favorable terms and performance under our pumping services agreement for the Eagle Ford, we are pleased to accelerate this activity, which we believe will result in higher cash flow and capital cost savings in 2017."
"I would also like to add that production from our highly anticipated Viper 14-9 1WA well in Howard County, Texas, with an approximate 10,400 foot lateral drilled in the Wolfcamp A, has just passed 1,000 Boe/d production at 92% oil during completion flowback with oil rates still increasing. It will be some time yet before we have a 30-day peak rate for this well, but this is clearly an encouraging early indication of productivity."